Which of the following is a key advantage of individual disability insurance over group disability insurance, particularly for a highly specialized professional?

Question: Which of the following is a key advantage of individual disability insurance over group disability insurance, particularly for a highly specialized professional?

Answer options:

• It is always less expensive.
• It typically offers higher benefit amounts relative to income. ✅ It is generally non-cancellable and guaranteed renewable.
• It provides broader 'Any Occupation' definitions.

Correct answer: It is generally non-cancellable and guaranteed renewable.

Explanation: A key advantage of individual disability insurance is that it is typically non-cancellable and guaranteed renewable, ensuring coverage cannot be cancelled by the insurer (except for non-payment) and premiums won't increase due to health changes, offering greater long-term security compared to often cancellable group plans.